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Galileo FX Review: Is It a Scam?

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Galileo FX

Galileo FX has a redesigned and horrible presentation. It has lost a widget on the system trading results. The main claim was changed to “Best Gold Bot For Passive Income.”

We have gathered these short and shattered pieces of intel in the following list for your comfort.

  • The advisor allows us to make our orders executed automatically. We may do nothing in addition.
  • The system isn’t sewed to any broker. We are allowed to work with our broker.
  • The advisor has balance requirements which we have to follow.
Galileo FX features

Galileo FX features

  • We can start working with it immediately.
  • It allows trading 24/5.
  • It has verified trading results.
  • We may rely on 24/7 support.
  • The system is delivered with updates.
  • It’s a completely legal trading solution.
  • There are all orders covered with SL levels.
  • We have Jumping Stops, Break Evens, and other features.
  • It trades many cross pairs at once.
  • We don’t need to extra customize it.
  • We can work on: Micro, Mini, And Standard account types.
  • We have all deals that the system is going to place on the market covered with TP and SL levels.
  • We may work on any PC.
  • The system should be used on a demo account first.
  • We may start working with it without any previous trading experience.
  • The advisor allows customizing risks that we want to work with.

Trading strategies and currency pairs

  • We have no details about the strategy disclosed.
  • The same picture we have when we are going to talk about the cross pairs.
  • A time frame isn’t revealed either.

The previous version of the presentation had this data about the backtest success.

  • Galileo FX Backtest – EUR/USD ($4398 Total Net Profits) + Settings
  • Total Net Profit: $4398.40
  • Gross Profit: $5132.40
  • Gross Loss: -$734

Account Info:

  • Broker: IC Markets
  • Platform: MT5
  • Version: Galileo FX Pro
  • Period: 1 Jan – 11 Jun 2021
  • Timeframe: H1

Settings:

  • Lots = 0 (dynamic)
  • Risk = 0.5
  • Max Orders = 0
  • Stop Loss = 0
  • Take Profit = 1000
  • Trailing Start = 0
  • Trailing Stop = 0
  • Consecutive Bullish Signals = 9
  • Consecutive Bearish Signals = 9

We don’t know if this intel is still relevant.

Galileo FX trading statistics

Galileo FX profile on Myfxbook

Galileo FX profile on Myfxbook

The developers have removed all their trading accounts. Probably, something went wrong and they were blown away.

Galileo FX trading results

Galileo FX trading results

These screenshots were taken when the system had a real account to work with. It looked that the system worked stable. We don’t know what could happen to it. The robot traded on a real USD account on IC Markets automatically with 1:500 leverage on cTrader. The account had a verified track record and verified trading privileges. It was created on October 04, 2020, deposited at $2,186, and withdrawn at $1,987. The absolute gain was 824.74%. An average monthly gain was high, 24.29%. The maximum drawdown was 21.57%.

Galileo FX trading details

Galileo FX trading details

The system had closed 1636 deals with 15,124 pips obtained. An average win was 12.57 pips when an average loss was a bit lower, -8.88 pips. The accuracy was 80-87%.

Galileo FX trading pairs

Galileo FX trading pairs

The advisor worked with three pairs, having focused on XAGUSD – 1629 orders with $1935.50.

Galileo FX risks

Galileo FX risks

The risks were quite low to the balance.

Galileo FX closed orders

Galileo FX closed orders

We don’t know if martingale was used because lot sizes were not shown.

Galileo FX monthly activities

Galileo FX monthly activities

The profitability went down a bit. It’s noticeable.

Pricing and refund

Galileo FX pricing

Galileo FX pricing

The offer was changed as well. Now, we have only insane prices on the board. There was an entry price of $199. Now, the pro price costs $899 for “unlimited profits.” The personal pack costs $299 for each $1000 of profits. The plus pack costs $499 for $5000 of the price. No refunds are provided. This offer is a scam.

What else you should know about Galileo FX

The system has nothing to prove that it’s the right bet. We have no backtests, trading results, or refunds.

People feedback

Galileo FX on the Trustpilot website

Galileo FX on the Trustpilot website

The Trustpilot watchdogs mentioned that this rate is 4.8 from 5 based on 1816 reviews.

Customer testimonial

Customer testimonial

Trader review

Trader review

Customer feedback

Customer feedback

User review

User review

We have many comments that warned us from purchasing the system. Thus, we should avoid this EA. There is nothing good to expect.

Galileo FX Conclusion

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Galileo FX is a scam solution. The presentation lacks explanations, settings, strategy details, backtest reports, trading results, positive real testimonials, well-measured pricing, refunds, and so on. It’s a pure scam.

  • Price - 2/10
  • Strategy - 2/10
  • Trading Results - 2/10
  • Vendor Transparency - 2/10
  • Customer Reviews - 2/10
  • Support - 2/10

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